AIM movers: Clontarf Energy lithium extraction JV and lower production at Jubilee Metals

Clontarf Energy (LON: CLON) is forming a joint venture with US-based NEXT-ChemX Corporation, which covers the deployment and marketing of the latter’s direct lithium ion extraction technology in Bolivia. There is limited water and energy consumption. Pilot testing and extraction starts in March. Clontarf Energy will contribute $500,000 towards the pilot plant for exclusive use of the technology and when that is made it will also issue 385 million shares to the partner. NEXT-ChemX will issue $500,000 of shares to Clontarf Energy in its next fundraising. A further 500 million Clontarf Energy shares will be issued to NEXT-ChemX on achievement of certain milestones. NEXT-ChemX has the right to invest £250,000 at 0.065p/Clontarf Energy share. The share price soared by 60% to 01.2p.

Having successfully raised €1.4m at 9.25p a share Glantus (LON: GLAN) shares recovered 17.7% to 8p. Chief executive Maurice Healy subscribed €350,000 in the fundraising. The cash will pay deferred consideration on past acquisitions and restructuring costs. This fundraising is a condition of the agreement to extend repayment of a €5m loan until August 2024.

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Mercantile Ports & Logistics (LON: MPL) has handled the first container freight at its Karanja port facility in India. An agreement with another local port and a logistics company could prove significant in the longer-term. The share price rose 14.3% to 7p.

LPA Group (LON: LPA) has received a £5.3m order for electro-mechanical products to the UK rail sector, which takes the value of the group order book to £34m. The share price increased 11.1% to 85p.

Jubilee Metals (LON: JLP) says copper production in Zambia fell 10% to 1,149t, which is well below the 3,000t target for the latest six months period. Power problems have hampered progress and back-up sources are being sought. South African platinum group metals production was 18,200 ounces and chrome production was 634,000 tonnes. The share price slumped 17% to 9.5p.

After a period of share price recovery, the Gattaca (LON: GATC) share price fell back % to p despite a good first half. However, permanent recruitment business has weakened since the beginning of 2023. Liberum has trimmed its full year pre-tax profit forecast for the specialist staff provider from £2.5m to £1.8m, which means that the dividend expectation has been lowered from 2.9p a share to 2.1p a share. Net cash is likely to be better than previously expected at £20.6m. The share price declined by 15.5% to 76.5p.

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Brighton Pier Group (LON: PIER) says revenues for the 18 months to December 2022 were £58.9m. Like-for-like growth was 9%. Borrowings are falling and this offsets higher interest rates. However, reduced margins due to higher inflation mean that Cenkos has cut its 2023 earnings forecast from 4.6p a share to 3.7p a share. The shares are 11% lower at 61p.

Semiconductors designer Sondrel Holdings (LON: SND) says the project design for a customer in the automotive sector has been delayed because project design will not be completed until the first quarter of this year. The payment for the first milestone was in January and the second will not be until May. The 2022 loss is higher than forecast and there will still be a small loss in 2023. The share price slipped by 7% to 56.25p. Sondrel was one of the better performers of last year’s new admissions, but the share price is nearly back at the 55p placing price.

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